MjLink Cannabis Business News and Press
MIAMI, Jan. 13, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Ayr Wellness, a vertically integrated U.S. multistate cannabis operator (MSO), has announced the opening of its newest dispensary in Pinellas Park Fla., its 44th in the state.
“We are thrilled with our progress to date in Florida, a market where we see tremendous upside and growth potential. With 44 stores now open, at least 21 additional stores expected in prime locations in 2022, and significant improvements to our cultivation and production operations driving increased quality and volume, Florida promises to be a significant driver to growth and shareholder value in quarters and years to come,” said Jon Sandelman, founder, chairman and CEO of Ayr Wellness.
The new dispensary will occupy over 2,700 square feet of prime retail space on one of the most heavily traveled routes in Pinellas County, population over 900,000, according to the U.S. Census Bureau. The store will have six points of sale and feature Ayr’s leading portfolio of premium offerings including Origyn Extracts, Secret Orchard Sun Gems and fruit-forward vapes, Big Pete’s Cookies, and a selection of high-quality flower, including whole flower and pre-rolls.
In February 2021, Ayr purchased Florida-based Liberty Health Sciences, which included 31 dispensaries across the state. Since then, the company has opened 13 additional locations–bringing the current total to 44 stores.
Earlier this year, Ayr relocated its U.S. headquarters from New York City to Miami, underscoring the company’s commitment to the region. With ~658,000 enrolled patients, Florida’s cannabis market ranks third in the nation by total cannabis sales, per BDSA, and generated over $1.23 billion in medical cannabis revenue in 2020. BDSA forecasts Florida’s cannabis market will rake in $2.6 billion by 2026.
The Mississippi Senate Public Health Committee approved a medical cannabis legalization proposal Jan. 12, sending it to the full Senate for consideration.
Senate Bill 2095 would allow registered patients in the state to access up to 3.5 grams of medical cannabis per day, according to an AP News report.
Mississippi voters approved Initiative 65 in the November 2020 election to legalize medical cannabis in the state, but in May 2021, the Mississippi Supreme Court overturned the measure, ruling it unconstitutional due to an outdated signature-gathering technicality.
RELATED: A Portrait of One of Medical Cannabis’s Last Holdouts
Since the Supreme Court’s decision, state lawmakers have been working to restore the will of their constituents through medical cannabis legislation, which has largely been supported by Sen. Kevin Blackwell and Rep. Lee Yancey.
Texas’ gubernatorial candidates revealed their stances on cannabis policy reform on the campaign trail this week, with Republican Gov. Greg Abbott and Democratic front-runner Beto O’Rourke both signaling their support for decriminalization.
At a campaign stop in Edinburg, Abbott said decriminalization policies would help keep the state’s prison system from becoming overwhelmed with low-level cannabis offenders, according to a 25 News report.
“Prison and jail is a place for dangerous criminals who may harm others and small possession of marijuana is not the type of violation that we want to stockpile jails with,” Abbott said.
Meanwhile, O’Rourke has been an “outspoken supporter” of decriminalization, 25 News reported, and in a statement to the news outlet, he echoed Abbott’s desire to keep low-level cannabis offenders out of Texas’ prisons.
“Legalizing marijuana is the right thing to do,” he said. “We can stop locking Texans up for a substance that’s legal in much of the rest of the country and allow police to focus on violent crime.”
LAS VEGAS (Jan. 12, 2022) – Cannabis Conference, the cannabis industry’s leading conference for cultivators, retailers, and extraction professionals, will return to the Paris Las Vegas Hotel & Casino from Aug. 23-25, 2022.
Presented by award-winning media brands Cannabis Business Times and Hemp Grower, Cannabis Conference will bring together 3,000-plus current and prospective cannabis business operators, university professors, consultants, technology and solutions providers, and more for three dynamic days of education and expo.
“Now in its sixth year, Cannabis Conference has become known for offering the highest level of targeted exhibitors, quality education programming, and valuable networking opportunities to help cannabis professionals discover new partners and solutions,” Group Publisher Jim Gilbride said. “We’re looking forward to returning to Paris Las Vegas in 2022, which is sure to be another challenging, dynamic and exciting year for the global cannabis industry.”
Cannabis Conference’s education program will address the most pressing issues plant-touching businesses face, as well offer tangible solutions operators can implement into their own businesses. Sessions are being crafted with the assistance of Cannabis Conference Advisory Board members from some of the most successful and innovative operations in the space, including:
Erin Alexander – General Counsel, Cresco Labs Salpy Boyajian – Executive Vice President/Board Chairman, Flower OneSjoerd Broeks – Genetic Development/R&D Director, THE PHARMDebby Goldsberry – Writer and Business Adviser, Green Rush Consulting; Consultant, Arcview GroupMario Guzman – Founder, Sherbinskis David Holmes – Owner & CEO, Clade9Nick Jack – Chief Retail Officer, Diego Pellicer-ColoradoAmber Littlejohn – Executive Director, Minority Cannabis Business AssociationColin Kelley – Operating Partner, Merida Capital; Board Member, LeafLine Labs Emily Kowalski – Vice President of Cultivation, LeafLine LabsClaudio Miranda – Co-Founder, Guild EnterprisesKenneth Morrow – Owner, Trichome TechnologiesLaurie Parfitt – Principal, LKP Consulting Angela Pih – Award-Winning Marketer and Brand Accelerator Guy Rocourt – Co-Founder and Chief Product Officer, Papa & Barkley Anna Shreeve – President, Urban Paragon Inc., Targeted Intent Inc., and The BakerééMason Walker – Co-Owner/CEO, East Fork CultivarsTalley Wettlaufer – Vice President of Retail, CuraleafHope Wiseman – Owner, Mary & Main DispensaryFull bios of Cannabis Conference 2022 Advisory Board members can be found at https://www.cannabisconference.com/page/cannabisboard/.
“Partnering with these industry trailblazers allows us to present the most relevant educational sessions for those looking to enter or continue to navigate the cannabis industry today,” Editorial Director Noelle Skodzinski said. “We’re looking forward to diving even deeper into cultivation, retail, extraction, finance, regulatory, and marketing content, in order to offer takeaways that directly address the challenges and opportunities of the moment.”
LOS ANGELES, Jan. 12, 2022 /PRNewswire/ -- PRESS RELEASE -- Viola, a Black-owned multinational cannabis brand, rooted in building equity within the space, announced the closing of a $13 million equity funding round. DelMorgan & Co., an internationally recognized investment banking firm headquartered in Santa Monica, Calif., acted as an exclusive strategic transaction advisor to Viola in connection with the transaction.
This latest round of funding allows Viola to expand into several key new markets, including Pennsylvania, Illinois, New Jersey, and Maryland, and continue executing on strategic marketing initiatives, further positioning Viola to be one of the top brands and operators in the rapidly growing cannabis industry.
"We're looking forward to a big 2022. The team at DelMorgan has always supported our vision and continues to be great partners for us as we bring Viola to new markets," said Al Harrington, co-founder and CEO of Viola.
Rob Delgado, chairman of DelMorgan, commented, "Al Harrington has proven himself to be a visionary in the Cannabis industry, demonstrating an ability to execute on initiatives that resonate deeply with today's popular culture and consumers."
Neil Morganbesser, president and CEO of DelMorgan, noted, "This investment is transformative, allowing Viola to significantly accelerate its expansion nationwide as one of the most iconic brands in cannabis."
DENVER, Colo. - January 11, 2021 - PRESS RELEASE - The Colorado Department of Revenue (CDOR) released November 2021 monthly marijuana sales figures and December 2021 marijuana tax and fee revenue figures, and reports a new record for marijuana tax and fee revenue in a single year. In 2021, Colorado collected over $423 million in revenue from marijuana sales (compared to the previous record of over $387 million in 2020). Additionally, Colorado also surpassed $2 billion in tax and fee revenue and $12 billion in marijuana sales to date since retail marijuana sales began in 2014. Here is the summary:
| Date | Marijuana Tax and Fee Revenue |
|---|---|
| December 2021 | $30,609,563 |
| January - December 2021 Calendar Year Total | $423,486,053 |
| To Date Total (since February 2014) | $2,018,933,005 |
| Date | Marijuana Sales* |
|---|---|
| November* 2021 | $158,462,549 |
| January - November 2021 Calendar Year Total | $2,060,952,959 |
| To Date Total (since January 2014) | $12,039,747,032 |
*Please note: final 2021 marijuana sales figures will be released in February 2022.
The Marijuana Sales Reports summarize total sales made by medical and retail marijuana stores monthly by county. The Marijuana Tax Reports show state tax and fee revenue collected monthly as posted in the Colorado state accounting system. Tax revenue comes from the state sales tax (2.9%) on marijuana sold in stores, the state retail marijuana sales tax (15%) on retail marijuana sold in stores, and the state retail marijuana excise tax (15%) on wholesale sales/transfers of retail marijuana. Fee revenue comes from marijuana license and application fees.
Virginia made history last year when it became the first state in the South to fully legalize cannabis, but a new governor and a reenactment clause in the law could bring changes to the original statute that the General Assembly approved in April.
“Virginia’s legalization law … was somewhat unique,” Karen O’Keefe, director of state policies for Marijuana Policy Project (MPP), told Cannabis Business Times. “Virginia can pass laws that require reauthorization, meaning they don’t take effect unless the Legislature votes for them again.”
Outgoing Gov. Ralph Northam signed the state’s adult-use legislation into law last spring, after the General Assembly approved amendments to expedite the cannabis possession and home grow provisions, which took effect July 1.
Under the current law, adults 21 and older can legally possess up to 1 ounce of cannabis in public and can cultivate up to four plants at their primary residence for personal use.
Commercial sales are slated to start Jan. 1, 2024, under the statute, but until then, selling or purchasing cannabis outside Virginia’s medical program remains illegal.
Florida lawmakers are considering changes to the state’s medical cannabis program as they reconvene Jan. 11 for the 2022 legislative session.
House Bill 679 contains technical changes to the constitutional amendment that legalize medical cannabis in 2016, according to an ABC News report.
“I think the first thing to understand about 679 is this is the first bipartisan marijuana package we’ve really run as a state in five years since the constitutional amendment passed,” Rep. Andrew Learned, one of the bill’s sponsors, told the news outlet. “Just getting both sides to agree on a way forward, I count this as a win already.”
The legislation aims to reduce costs for Florida’s medical cannabis patients by requiring fewer doctor’s visits, extending the expiration dates on registration cards from one year to two, and offering telehealth services to help patients refill their prescriptions, ABC News reported.
H.B. 679 would also regulate delta-8 THC. Learned told the news outlet that the bill changes some of the definitions surrounding delta-8 and helps ensure that delta-8 products are tested and sold only to adults 21 and older.
Her 17-year-old son looked like he was dying.
Angie Calhoun could hardly bear to watch her only child, Austin Calhoun, go from active and happy to bedridden and miserable, as he began experiencing focal seizures, severe joint pain, and chronic nausea and vomiting.
The debilitating medical conditions took their toll, as Austin, unable to keep any food down, rapidly lost 40 pounds from his adolescent frame. As the pain progressed, weakening his body and spirit, Austin’s health deteriorated to the point where he no longer wanted to move.
“He had stopped playing tennis,” Angie said. “He didn’t feel like going out with friends anymore. That was one thing where my husband and I were like, ‘Something is really wrong with Austin.’ He is not going out, and he was one of those who enjoyed going out. He’s a social butterfly. But it just stopped, and he just felt so bad that he laid on the couch or in the bed and slept, and slept, and slept.”
In addition to sports and friends, Austin, who turns 26 this month, also enjoyed being outdoors hunting and fishing. But those activities came to a halt too, as did his schooling.
During his senior year of high school, Austin said he attended maybe four days of classes.
The State Medical Board of Ohio has received petitions to add several new qualifying conditions to the state’s medical cannabis program, according to a Yahoo! News report.
The board accepts submissions for new conditions every year, which must include letters of support from physicians and evidence that cannabis can be used to treat or alleviate the condition, the news outlet reported.
The petitions ask the State Medical Board to add anxiety, depression, lupus, degenerative disc disease, bipolar disorder, insomnia, opioid use disorder, Gilbert’s syndrome and autism spectrum disorder, which the board rejected last year but may revisit in 2022.
RELATED: Ohio State Medical Board Approves Cachexia as Qualifying Condition for State’s Medical Cannabis Program
Petitions have also requested the state to add chronic pain and post-traumatic stress disorder (PTSD) to the medical cannabis program, but they are already among the state’s 25 existing qualifying conditions, according to Yahoo! News.
Arkansas’ 37 operating medical cannabis dispensaries have sold more than $500 million worth of cannabis since the first retailers opened in May 2019, according to a FOX 16 report.
Data from the Arkansas Department of Finance and Administration shows that patients purchased more than 40,000 pounds of medical cannabis in 2021, the news outlet reported.
The state has collected roughly $34 million in tax revenue generated from the sales, according to FOX 16.
RELATED: Arkansas Medical Cannabis Sales Hit $447 Million
Arkansas voters approved medical cannabis legalization in 2016, and there are currently more than 79,000 registered patients in the state, FOX 16 reported.
South Carolina Sen. Tom Davis (R-Beaufort) has been sponsoring medical cannabis legislation in the state for years, and recently told WMBF that the issue could pass the Legislature and be signed into law this year.
“I’m optimistic about this bill being approved by both chambers of the Legislature and sent to Gov. McMaster before we adjourn in May,” Davis told the news outlet. “I’ve done a pretty good canvassing of my colleagues in the state senate. I’m confident that I have a majority of senators in favor of this bill.”
Davis’ legislation would allow doctors to recommend medical cannabis to patients with debilitating medical conditions such as Crohn’s, post-traumatic stress disorder (PTSD) and chronic pain.
A similar proposal stalled in the Senate last year, which Davis attributed to higher-priority bills taking precedent during the 2021 legislative session, WMBF reported.
RELATED: Advocates Push for Medical Cannabis Legalization in South Carolina
TALLAHASSEE, Fla., Jan. 10, 2022 – PRESS RELEASE – Trulieve Cannabis Corp., a leading and top-performing cannabis company in the U.S., announced the launch of Live Diamonds by Muse. Live Diamonds are the latest innovation from Trulieve's state-of-the-art hydrocarbon extraction lab, the only one of its kind in the state of Florida. The initial product release of 500 units sold out within 24 hours, and Trulieve anticipates another batch of Live Diamonds to become available for sale in February 2022. The launch strain, White Fire Alien, exhibits subtle, natural flavors with a retail price of $45 for 0.5 gram.
"Trulieve is excited to be Florida's first and only dispensary to offer patients the benefits of high-quality cannabis concentrates produced through hydrocarbon extraction, especially Live Diamonds by Muse," Trulieve CEO Kim Rivers said. "Due to the delicate and complex production process, this product will only be available in limited quantities, however we look forward to expanding patient access and continuing to deliver innovative products to our valued patient base here in Florida."
Live Diamonds are created using a proprietary blend of propane and butane in Trulieve’s hydrocarbon extraction lab via TruFlower that has been frozen immediately at the time of harvest. The result of the "diamond mining" and production process locks in volatile terpenes and produces a strain-specific, full-spectrum cannabis concentrate that exhibits subtle, natural flavors. "Live" products are generally described as a truly enhanced experience in terms of flavor and appear to offer a broader set of effects for users.
For more information, to find a location or to learn how to become a registered patient, please visit Trulieve.com and connect on Instagram or Facebook. Learn more about Muse at @meet.your.muse.
]]>Montana joined the ranks of active adult-use markets at the top of this month, opening several hundred dispensaries and quickly pulling in $1.5 million or so in cannabis sales.
“[Opening day] was very busy. Busier than expected,” Tanya Simonson, part owner of Herbaceous Inc. in Big Sky, told Lone Peak Lookout. "There's definitely a lot of tourists coming in but a lot of locals too... We were definitely back stocked with weed, and we went through a lot. It was a big day. We ran out of some product, some of our edibles.
“Now that it kind of has opened up I feel like a stigma maybe has released just because people are like, ‘Oh, it’s legal.’ And now maybe [people are] not as nervous to even come into the store. Whereas before, when it was just medical, people were a little hesitant because there's such a stigma on cannabis.”
We’ve rounded up some of the key cannabis headlines from the week right here.
And elsewhere on the web, here are the stories we’ve been reading this week:
Marijuana Moment: Justin Strekal is out at NORML. Read more Syracuse.com: Reporter Sean Teehan profiles the New York Cannabis Growers and Processors Association. Read more BBC: The island of Jersey lands some extra scrutiny over its medical cannabis rules. Read more Washington Post: “Quebec will require people to show proof of coronavirus vaccination when entering government-run stores selling cannabis or alcohol.” Read more WTVA: “Three researchers at Ole Miss have been awarded a $1.37 million grant to study cannabis pain relief.” Read more ]]>Democrats in the Kansas House unveiled three proposed constitutional amendments Jan. 6: one to expand Medicaid and two that would legalize medical and adult-use cannabis, according to a KWCH report.
If approved by the Legislature, the proposals would go before voters on the 2022 ballot for approval, the news outlet reported. If passed, lawmakers would then need to implement the new laws by July 1, 2023.
Last year, the Kansas House approved a medical cannabis legalization bill, which ultimately stalled in the Senate.
Illinois’ adult-use cannabis retailers sold $1.38 billion worth of products in 2021 and set a new record in December, when adult-use sales hit $138 million, according to the Chicago Tribune.
2021’s sales were more than double those in 2020, when Illinois launched its first adult-use sales and logged $669 million in total sales, the news outlet reported.
Illinois’ 110 adult-use dispensaries sold more than 30 million products in 2021, according to the Chicago Tribune.
December’s sales were up 14% from the previous month, according to the news outlet, and broke the previous record of $128 million, which was set in July.
A cannabis company is asking the Illinois Supreme Court to let the state name the winners of craft grower licenses that have been held up by pending litigation, according to the Chicago Tribune.
1837 Craft Grow LLC filed a motion Jan. 5 to modify a court order that bars state officials from naming the licensees until litigation is settled, the news outlet reported.
The case holding up the licensing process centers on 13 companies that sued the state to challenge the licensing process after their applications for craft grow and transporter licenses were disqualified, according to the Chicago Tribune.
RELATED: Illinois Cannabis Retail Licenses Still in Limbo After Third and Final Licensing Lottery
A state law required Illinois officials to issue the 60 new craft grow licenses by Dec. 21, 2021, the news outlet reported, but Cook County Judge Neil Cohen and Sangamon County Judge Gail Noll have ordered that the licenses cannot be awarded until the lawsuit is settled.
Three partners have come together to launch Carver Family Farm, an aspiring adult-use cannabis microbusiness based in Albuquerque, N.M., that plans to bring quality and variety to the state’s forthcoming adult-use cannabis market.
“One of the things I’m excited about is Albuquerque has a huge microbrewery and craft distillery culture here, and I think that craft cannabis is going to be the next big thing for Albuquerque,” Matt Muñoz, the company’s chief innovation and finance officer (CIFO), tells Cannabis Business Times.
Muñoz and the company’s other two partners, Chief Cultivation Officer Andrew Brown and Chief Operations Relations Officer Erika Hartwick Brown, a husband-and-wife team, are seeking to secure multiple adult-use licenses to become a vertically integrated cannabis microbusiness.
The trio applied in August for a producer license, which it received in mid-December. The New Mexico Cannabis Control Division (CCD) opened the application process for retail and manufacturing licenses last month, and Carver Family Farms will apply for those, as well.
“We’re focusing on an organic, no-till, living soil indoor operation,” Muñoz says. “Erika and Andrew have been patients since New Mexico had a medical cannabis program. They’ve been personal producers at their home, so they’ve been growing from there and perfecting this crop ever since.”
The New Hampshire House approved an adult-use cannabis legalization bill Jan. 6, according to an AP News report, after similar legislation cleared the House in 2020 but ultimately stalled in the Senate.
The bill, which now returns to the Senate for consideration, would allow adults to possess up to three-fourths of an ounce of cannabis and cultivate up to six plants at home, AP News reported.
Cannabis could be traded or given away under the legislation, but not sold, according to the news outlet.
RELATED: New Hampshire Takes Criminal Justice Approach to Cannabis Legalization: Legalization Watch
A broader bill in 2019 would have created a regulated and taxed retail market for adult-use sales, but that legislation also died in the Senate, AP News reported.
WAKEFIELD, Mass., Dec. 28, 2021 /PRNewswire/ -- PRESS RELEASE -- Curaleaf Holdings, Inc., an international provider of consumer products in cannabis, has announced that it has entered into a definitive agreement to acquire Bloom Dispensaries, a vertically integrated, single state cannabis operator in Arizona in an all cash transaction valued at approximately US$211 million. The transaction is expected to close in January 2022, subject to customary approvals and conditions.
The proposed transaction with Bloom includes four retail dispensaries located in the cities of Phoenix, Tucson, Peoria, and the only dispensary currently in Sedona, with a combined population of over 2.3 million and drawing millions of tourists every year. In addition, Bloom strengthens Curaleaf's production capabilities in Arizona with the addition of two adjacent cultivation and processing facilities located in north Phoenix totaling approximately 63,500 square feet of space. Finally, Bloom has an attractive financial profile, generating expected 2021 revenue of approximately $66 million and EBITDA margins of more than 40%. Following the close of Bloom and the previously announced acquisitions of Tryke Companies and Natural Remedy Patient Center, Curaleaf's retail footprint will increase to 16 dispensaries in Arizona and 128 nationwide.
Boris Jordan, Executive Chairman of Curaleaf, stated, "We are pleased to continue Curaleaf's expansion in the state of Arizona with the acquisition of Bloom. In addition to bolstering our strong position in this key growth market with an attractive portfolio of retail and cultivation assets, Bloom will be immediately accretive to our adjusted EBITDA margins upon close. On behalf of the Board of Directors and management team, I look forward to welcoming Bloom to the Curaleaf family."
Joseph Bayern, CEO of Curaleaf, stated, "We are excited to announce the acquisition of Bloom, which shares Curaleaf's mission of delivering the highest-quality products and superior service to patients and customers while striving to make a positive impact in the communities we serve. Bloom has built a strong and profitable business, and we believe the combination of our two companies will enhance our competitive position and ability to continue gaining share in the highly attractive Arizona market."
Under the terms of the agreement, Curaleaf will pay US$51 million in cash at closing, with the remaining approximately US$160 million paid in three promissory notes of $50 million, $50 million, and $60 million due, respectively, on the first, second and third anniversary of closing of the transaction. The notes will be recourse only to shares and assets of Bloom and will not be guaranteed by any Curaleaf entity.
